THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH PAROCHIAL CHURCH COUNCIL'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH CONTENTS Page Legal and administrative information Parochial Church Council's report Independent Examiner's report Statement of Financial Artivities Balance Sheet Notes to the financial statements 9-19
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH LEGAL AND ADMINISTRATIVE INFORMATION Charity number 1132853 (registered in England & Wales) Address Emmanuel Church Centre Forest Road Loughborough Leicestershire, LE113NW PCC Membership Rev M.J. Broadley Rev A Walton Rev K Marjoribanks Incumbent and Chairman Associate Rector (since 22 March 2022) Curate (since 3 July 2022) M.B. Riddleston Church Warden (since 25 April 2023) + Elected Member (9 April 2019- 25 April 2023) Elected Member (since 9 April 2019) and Treasurer Representative on Deanery Synod Elected Member (since 29 March 2022) Elected Member (since 23 April 2024) Elected Member (since 23 April 2024) Elected Member (since 23 April 2024) Representative on Deanery Synod Elected Member (9 April 2019) Reader, Lay Chair of Deanery Synod, Lay Canon of Leicester Cathedral and PCC Safeguarding Lead Elected Member (since 23 April 2024) C.J. Sheldon J.M. Burnard A Guilder J.L. Green H.S, Hall H.E. Jevons N.J. Revell S.E. Reynolds Dr C.T. Spencer W.T. Stanger K. Fletcher PCC Secretary- (since 25 September 2023} D. Ninan 5. Ryce Church Warden - Resigned at end of term 23 April 2024 Elected Member (27 April 2021) - Resigned 23 April 2024 Independent examiner J Dennis ACA TC Group Hamilton Office Park 31 High View Close Leicester, LE4 9LJ Banks CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent, ME19 4JQ Lloyds Bank PIC 37138 High St Loughborough LE112QG Page I
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH REPORT OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2024 The Parochial Church Council presents its report and the financial statements for the year ended 31 December 2024. The Parochial Church Council which served during the year and up to the date of this report is set out on page l. Oblectives The primary objective of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England and to co-operate with the Rector in promoting the whole mission of the Church in this ecclesiastical parish. Adrninlstrative information and Compliance with prevalling laws and regulations The Parochial Church Council {PCC) is a corporate body established by the Church of England. The PCC operates under The Parochial Church Council Powers Measure and is registered with the Charity Commission in line with the requirements of the Charities Act 2011. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FR5102. Structure, 8overnante and management All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC. The PCC aims to meet a minimum of 6 times a year. Committees are established to examine and develop certain areas of activity but report back to the PCC for detisions to be approved. The PCC continues to identify major risks to which it is exposed and has established policies to manage these risks which are reviewed on a regular basis - these include, but are not limited to, safeguarding, health and safety and employment issues. Where diocesan and other training opportunities arise, members are encouraged to attend. Activities {Including Publlc Benefrt) When planning our activities for the year the, PCC considered the Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. The PCC Trustees believe that, by promoting the work of the Church of England in the Parish, we promote the whole mission of the Church (pastoral, evangelistic, social, and ecumenical) effectively, and that, in doin8 $0, we provide a benefit to the public by: Providing facilities for public worship. pastoral care, and spiritual, moral, and intellectual development, both for our members and for anyone who wishes to benefit from what the Church offers; and Promoting Christian values and service by members of the Church in and to their communities, to the benefit of both individuals and society as a whole. The PCC encourages a vibrant life within the church, with every effort made to reach all ages in the parish through a wide variety of worship opportunities, social activities, and Christian fellowship. We focus on outreach work through Alpha Courses, the Lunchtime Concerts, through youth and children's work. student mission and senior citizens, ministry. We reach out into the community to welcome people and other charitable organisations to share and use our resources. We offer pastoral sUPPOrt through our pastoral team5. prayer teams and prayer chain5, listeners, bereavement visitors and communities. The many and varied groups and activities are detailed on our website www.emmanuel-loughborou8h.org. During 2024 we have continued our pattern of three Sunday Services which are also livestreamed. We have around 100- 150 views per week across our three Sunday Services. Page 2
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH The Parish is fully committed to the Loughborough Churches Partnership (LCP) which works to support the Loughborough Street Pastors, scheme and other town-wide mission and outreach projects. LCP has a three year plan which supports projects in the local community and 15 seeking to deliver a copy of Luke's Gospel to every household within a 3 year time frame. In all areas the PCC has been blessed by the contribution of many volunteers, who share the leadership of many of the programmes and work with churches across the town, as well as helping in the administration of our parish. It is impossible to quantify or put a value on the amount of work done by volunteers. Donations income of the PCC is tithed, to give to charitable causes and in addition collections from special SeiceS and events during the year were 3150 donated to good causes. Church attendees are asked to suggest potential recipients to the tithe commattee who then make recommendations to the PCC. Most tithe recipients also have an advocate in church helping to explain their work and convey prayer requests. A specific appeal was undertaken this year to provide equipment for a new school block through our link Diocese in Tanzania. Details of grants made in 2024 can be found in Note 7a of the accounts. Achievements and performance Overthe pastyearwe have continued to develop and deepen our ministry in linewith our Vision and Values focused around "Who, What. How and Why" This has been in many different areas of the church's life. As we start a new year we are cornmitted to relooking at OLtr Vision statement and discerning the areas that we need to focus on in a more targeted way. Worship and Discipleship. Our Sunday Morning congregations continue to grow and develop. What is noticeable is that the 11.00 has become more diverse in terms of ethnicity and socio-economic background. This has been reflected in the Alpha Courses that have been hosted and organised under the leadership of Helen Sheldon which has drawn a wide range of people from a wide range of backgrounds. Our Sunday Evening Service continues to struggle in terms of members of our congregation however we have now moved to a Café Style service every week which is growing and developing as well as fo¢usin8 far more on dFscipleship. The 10.00 Thursday Morning Communion SeiCe regularly attracts 20-25 members of the congregation per week. Our discipleship groups continue to grow and develop under the oversight of Rev Ali Waltort. Over the past year we have followed the sermon series as well as explored the Holy Habits material. Ali retires on 23 March 2025 and we will look at how to grow our discipleship through the "Emmaus Groups," Various regular activitie5 and multiple one off events have taken place within Emmanuel that have encouraged worship, discipleship and evangelism. These have included Youth Events, School Events, Project 5000 and Lunchtime Concerts. Resource Church. Over the past year we have continued to look at how we can fulfil our calling to plant churches that plant churches. We held our now annual Resource Church Partnership Weekend at Emmanuel and the main speakerwas the Rev Martyn Taylor a vicar from Stamford who has planted Several churches in markettowns. The main thallengefor all of usfrom the weekend was'what Nexty, Our relationship with the Good Shepherd Continues to grow and develop through the ministry of Revd Michael Broadley and the Revd Kat Marjoribanks. The three families who planted into the Good Shepherd are now fulty integrated into the worshipping community and the church continues to grow slowly but surely. St Barnabas continues to grow and develop with over 120 people [in¢ludin8 children] on their "books" Flnancial review During 2024 we utilised £28,556 from the Designated Redecoration and Investment Fund to undertake urgent repairs to two pinnacles on the church building. These were identified following the quinquennial inspection This resulted in a net deficit (before transfers and revaluations) of £30,067 compared to a net deficit last year of £20,335. This year's deficit (before transfers and revaluations) includes a surplus of £1,931 on General funds and a deficit of £30,654 on Designated funds giving a total of £28,723 on unrestricted funds and a deficit of £1,344 on restricted funds. Page 3
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH Totsl income has decreased by £13,194 compared to 2023, whilst expenditure has decreased by £3,462 (which includes £28,556 on major repairs). Income from Charitable Activities decreased by £13,800 mainly through reduced grants and expenditure on Charitable Activities reduced by £3,332. Principal risks and uncertalnties The principal risks and uncertainties fating us as a church are the potential for volatility in our income from donations (which is our principal source of funding), as well as the potential need for unexpected repairs to our buildings. Fulfilling our role as a Resource Church will also continue to be a source of potential financial risk. These risks and uncertainties are the main factors which could affect our future financial performance and position. The former risk is mitigated by our Thanksgiving programme, which takes place annually- through this we encourage the congregation to consider individually their annual givin8 and whether they could commit to giving by standing order. This has now become an established part of Emmanuel's church ¢alendar and assists us with budgeting throughout the year. The risk regarding unexpected repairs is mitigated through the valuable work of our volunteers who perform regu lar and careful reviews of the buildings, grounds and premises and undertake minor maintenance. This ensures that any minor repairs can be undertaken before they get worse, and quotes can be obtained for any more significant repairs or works so that they can be planned for before they become essential. Our buildings and contents are fully insured. During 2022 we completed a Quinquennial inspertion of our premises, this is a detailed survey required by the Church of England every five years. This has highlighted some areas of maintenance which the PCC have been tackling with the most important first. The repairs to the pinnacles became most urgent on more detailed inspection but have now been completed in full. In order to minimise the risk around our development as a Resource Church, we continue to carefully balance additional costs incurred in order to fulfil increased expectations against our resources available at any one point in time. Where possible, we are taking advantage of grant funding available from the Diocese to assist with the staffin8 requirements which we trust will facilitate our growth. Reserves pollcy and review The policy of the Trustees is to aim to keep a minimum of £60,000 in the general reserve. This ensures that we have good cover for significant unplanned items of emergency expenditure. We will continue to endeavour to maintain thi5 reseNe whenever possible, whilst recognising that we may have to Use some of it as an interim measure as we grow and develop as a Resource Church. This figure in General Reserves was depleted during the Covid-19 pandemic and we have not yet been able to restore to this figure. We are pleased that we have achieved a breakeven result in 2024. We continue to hold over £205,000 i n our Redecoration and Investment reserve which is available to cover premises related costs, reducing the reliance on the General Reserve. The PCC regularly reviews levels of reserves, including free reserves over and above our desi8nated reserde fund, as part of the budgetin8 proced ure. The PCC believes current levels of reserves across both General and Redecoration and Investment Fund are adequate. Free reserves are used to grow our mission and ministry in line with priorities determined by the PCC and Emmanuel invests its funds balances with the CBF Church of En8land Deposit Fund. Total reseDJes at the end of the year amount to £555,195. This includes restricted reserves of £21,512 as deta iled in Note 14, and designated reseNes of £251,776 as detailed in Note 15. Our Designated General reserves balance at the year-end is £33.500 and in line with our reserves policy, we will aim to rebuild this to £60,000 as soon as possible, which represents approximately three months, expenditure. The church plantin8 designated fund continue5 to be available to assist our next church plant arising from our Resource Church designation, Undesignated general reserrfes, including the revaluation reserve, amount to £281,907. These include the value of the church hall {regarded as an inalienable asset). As £275,000 of unrestricted funds could only be released through the Page 4
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH disposal of fixed assets, this leaves readily available funds {"free reserves") that are neither restricted nor designated of just £6.907 at the year end. This does not include the Designated Reserve Fund and the substantial Designated Redecoration and Investment Reserve which total £239,374. Approved by the PCC on 18 March 2025 and signed on their behalf by: Rev M Broadley, (Chairman Page 5
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH Independent examiner's report to the Parochial Church Council of the Eccleslastical Parlsh of Ernmanuel, Loughborough I report to the charityls trustees on my examination of the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Emmanuel, Loughborough for the year ended 31 December 2024which comprisethe statement of financial activities, the balance sheet and related notes. Responslbilitles and basls of report As the charity'5 trustees you are responsible for the preparation of the accounts irt accordance with the requirements of the Charities Act 2011 {'the Act')- I report in respect of my examination of the chariVs accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement Since the chariws gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 ofthe Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by sertion 130 of the Act- or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. L/L ennis ACA TC Group Hamilton Office Park 31 High View Close Leicester, LE4 9 LI Date= Page 6
THE PAROCHIAL CH THE ECCLESIA CAL PARISH OF RCH COUNCIL OF ANUEL LOUGHB UGH STATEMENT NANCIAL AGTIV FOR THE YEAR ENDED 31 DECEMBER 2024 Unre5tri¢ted Funds Deslgnated Restrlcted funds Z024 Total 2023 Total Genernl Total Income from: Donations and legacies Charitable Activitie5 other activities Investments Total Notes 247.361 37,170 43,258 13,199 340,988 80 6,344 247.441 43.514 43.25B 13,199 347.412 4,675 44,114 252,116 87,628 43,258 13,199 396,201 260.919 101.428 34,642 12,406 409,395 6,424 48,789 Expendlture on: Rai5in8 funds Ch3rit3 ble activiti es Tota I 39,303 299,754 339,057 39.303 336,832 376.135 16 50.117 50,133 39,319 386,949 426,268 39.449 390,281 429,730 37,078 37,078 Net In¢ome] ¢experHditure) 1,931 {30,654) (28,723) (1,344) {30,067) [20,335) Nel movement in funds 1,931 (30,654) (28,723) {1,34d) (30,067) (20,335} RecoTrciliatlon of funds: Total funds brought forward 279,976 282,430 562,406 22.856 585,262 605,597 Total funds carried forward 14&15 281,907 251,776 533,683 21,512 555,195 585,262
BALANCE SHEET CAL PARISH OF EMMANUEL LOUGHBORO THE ECCLE STATEMENT FINANCIAL ACTIVITIE FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Flxed ass¢t$ Ta nsible assets 277,504 275,000 Current assets Debtors Cash at bank and in hènd 10 11,723 281,554 293,277 23,710 324,754 348,464 11 Creditors falling due wlthln one year 12 (15,586) {38,202) Nel currtrtt assets 277,691 310,262 Net assets 555,195 58S,262 Funds of the charlty Restricted funds General fund Oesignated funds Revaluation reserve Total unrestricted funds 14 21,512 22,856 15 15 16 141,907 251,776 140,000 139,976 282,430 140,000 533,683 562,406 Total funds 555,195 585,262 The financial statements were approved by the Parochial Church Countil on 18 March 2025 and signed on it5 behalf by: I I i _IllU IJJ Rev M. Broadley Chèirmart The notes on pages 9 to 19 form an integral part of these financial statements 11
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng Pollcies The main accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the precedin8 year. 1.1 Basis of accounting The PCC constitutes a public benefit entity as defined by FRS 102. The financial statem'ents have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reportin8 Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Church Accounting Regulations 2017. the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical c05t convention, modified to include certain items at fair value. Fund accountlng Funds shown in these accounts include: the general funds of the Parochial Church Council (PCC) that are not subject to any restrictions regarding their use and are available for application to the general purposes of the PCC; Designated funds which have been set aside by the PCC for a specific purpose but are not Subject to any restriction; and Restricted funds which can only be used for specific purposes. The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church 8foups that are informal gatherings of church members. Cashflow exemption The PCC has taken advantage of the exemption available to smaller charities such that no Statement of cashflows has been prepared. Income All income is included in the statement of financial activities when the church is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Income from donations and le acies= Collections are recognised when received by or on behalf of the PCC; Planned giving receivable under gift aid is recognised only when received; Income tax recoverable on gift aid donations is recognised when the donation is recognised. Grants and legacies to the PCC are accounted for as soon as the PCC is notified of their legal entitlement and the amount due. Income from other activities: Rental income from the letting of church and church hall premises is reco8nised when the rental is due. Page 9
THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF EMMANUEL LOUGHBOROUGH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from investments: Interest is accounted for when receivable. 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, which is reported as part of the expenditure to which it relates. 1.6 Taxation The PCC is exempt from tax on its charitable artivities. 1,7 Going concern There are no material uncertainties in respect to the PCC'5 ability to continue as a going concern. Tangible fixed assets and depreciation Freehold land & buildings are stated at market value and are not depreciated as the PCC consider that any depreciation charge would be insignificant taking into account the useful economic life of the buildings and the fact that they are maintained in good condition. Fixtures and equipment are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows: Freehold land and buildings Fixture5 and equipment not depreciated 3 to 5 years straight line Consecrated land and buildings and moveable church furnishings: Consecrated and beneficiary property is excluded from the accounts by Virtue of s.1012} {a} of the Charities Act 2011. No value is placed on historic movable churth furnishings held by churchwardens on special trust for the PCC and which requlre a faculty for disposal since the PCC considers these to be inalienable assets. All expenditure incurred during the year on consecrated or beneficed buildings, whether maintenance or improvement, is writtert off as expenditure in the statement of financial activities. Individual items of equipment with a purcha.se price of £1,000 or less or where the cost is funded by a specific appeal, grant or designated reserves are written off in the year of purchase. 1.9 Defined contribution pension schemes The pension costs charged in the financial statements represent the contributions payable by the charity during the year. Pa8e 10
2 Income from donation5 and legacies Unrestricted Funds Designated Restricted funds 2024 Total 2023 Total General Total Regular donations Legacv Other donations Giftaid 166,365 45 166,410 166,410 163,534 1,000 48,935 47,450 260,919 36,294 44,702 247,361 35 36,329 44,702 247,441 3,880 795 4,675 40,209 45,497 252,116 80 Income from donations in the prior year included £119 to designated funds income and £13,940 to restricted funds. 3 Income from charitable artlvlties Unrestricted Funds Designated Restricted funds 2024 2023 General Total Total Total Adults 257 257 257 771 Seniors Students Children, Youth & Families Church Weekend 2,779 1,275 298 2,779 1,275 298 2,779 1,275 298 2,676 1,365 1,526 3,393 6,202 3,371 43,274 38,850 101,428 3,716 5,982 1,137 21,726 3,716 5,982 1,137 28,070 3,716 5,982 1,137 28,070 44,114 87,628 Lunchtime Concerts Fees Iweddings & funerals) Grants 6,344 Youth Football 44,114 44,114 37,170 6,344 43,514 Income from charitable activities in the prior year included= £38,850 restricted youth football team income. 4 Income from other activities Unrestrlcted Funds Restricted funds 2024 2023 General Desl8nated Total Total Total Church Centre lettings Church Hall lettings Other lettings & income 14,854 17,166 11,238 43,258 14,854 17,166 11,238 43,258 14,854 17,166 11,238 43,258 12,567 18,925 3,150 34,642 All income from other activities in the prior year was unrestricted and undesignated. 5 Income from Investments Unrestricted Funds Restricted funds 2024 Total 2023 Total General Designated Total Bank interest receivable 13,199 13,199 13,199 12,406 All income from investments in the prior year was unrestricted and undesignated. 11
6 Expenditure on raising funds Unrestrirted Funds Designated Restricted funds 2024 Total 2023 Total General Total Fundraising Churth Hall running Office and management 2,081 6,463 30.759 39,303 2,081 6.463 30.759 39,303 16 2,097 6,463 30,759 39,319 408 6,821 32,221 39,450 16 Expenditure on raising funds in the prior year was unrestricted and undesignated. 7 Expenditure on charitable artivities CURRENT reporting period Unrestricted Funds General Designated Restricted f unds 2024 Total 2023 Total Total Missionary and charitable giving (note 7a} Parish gift Clergy expenses Training Adults 24,665 99,450 7,939 1,736 1,028 1,965 12,082 33,989 3,496 25,336 3,870 5,318 461 24,665 99,450 7,939 1,736 1,028 1,965 12,082 33,989 3.496 25,336 3,870 5,318 461 3,441 28,106 99,450 7,939 3,286 L,028 1,965 12,082 34,176 3,496 25,336 3,870 5,318 461 30,509 109,000 7,806 6,025 1,607 2,064 21,791 38,151 3,123 24,209 2,869 3,368 676 1,550 Senior5 Students Children, Youth & Families Church Weekend Worship Services & Hospitality Lunchtime Concerts Publicity Church Centre running Repairs and other costs Church Hall running costs Administration Depreiiation Bank charges Independent examination fees 11 187 33,204 4,652 6,463 30,714 487 33,204 41,730 6,463 30,714 487 250 33,454 41,730 6,463 30,714 487 30,760 27,325 6,821 25,615 3,152 1,104 37,078 1,009 1,009 1,009 1,890 1,890 1,890 1,513 43,177 386,949 1,740 1,414 41,152 390,281 Project 5000 Emmanuel Football Club Total 1,513 43,177 50,117 299,754 37,078 336,832 12
7 cont Expenditure on charitable activities PREVIOUS reporting period Unrestricted Funds Restrirted funds 2023 General Designated Total Total Missionary and charitable giving Inote 7a} Parish gift Clergy expenses Training Adults Seniors Students Children. Youth & Farnilies Church Weekend Worshlp Services & Hospitality Concerts Publicity Church Centre running Repairs and other costs Church Hall running costs Administration Depreciation Bank charges Independent examination fees 23,795 109,000 7,806 2,182 1,607 2,064 21,791 37,926 3,123 24,209 2,869 3,368 676 23,795 109,000 7,806 2,182 1,607 2,064 21,791 37,926 3.123 24,209 2,869 3,368 676 6,714 30,509 109,000 7,806 6,025 1,607 2,064 21,791 38,151 3.123 24,209 2,869 3,368 676 30,760 27,325 6.821 25,615 3,152 1,104 3,843 225 30,760 3,263 6,821 25,615 3,152 1,005 30,760 27,325 6,821 25,615 3,152 1,005 24,062 99 1,740 1,740 Project 5000 Emmanuel Football Club Tota I 1,740 1,414 41,152 390,281 1,414 41,152 53,447 312,772 24,062 336,834 7a Missionary and charitable givlng 2024 2023 General Designated Restrirted Total Total Diocese of Leicester to send to Diocese of Mount Kilirnanjaro Church Missionary Societv SOAR Project Crosslinks 2,557 3,143 5,700 7,724 4,325 3,700 1,530 1,330 1,325 1,025 1,025 7,908 24,725 4,325 3,700 1,530 1,330 1,325 1,025 1,025 8,205 28,165 4,250 3,600 1,500 1.300 1,300 1,000 1,000 8,835 30,S09 TearFund The Bible Society Child Contsct Centre Street Pastors - Loughborough Grants less than £l,OOO/not yet a Ilocated Tota I 297 3,441 The prior year figures include £Nil from designated funds and £6,715 from restricted funds. 13
8 Employees Included within the expenditure In Note5 6 and 7 are the following employment costs: 2024 2023 General Designated Restricted Total Total Staff costs Wages and salaries Socia I secu rity costs Pension costs (DC scheme) 120,371 4,504 6,543 131,418 120,371 4,504 6,543 131,418 126,661 6,555 6,854 140,070 All staff costs in 2024 were unrestricted The average monthly number of employees (full and part time) during the year was as follows: 2024 2023 Number Number Office Cleaners Youth, children and young families ministries Students Worship {1} The Church operates a defined contribution pension scheme. At the year end £714 (2023: £942) of contributions are due to be paid over, as contributions are paid monthly in arrears. (li} No employee received employment benefits for the reporting period of more than £60,000. (iii} Office stsff costs were being partially funded by grants from the Church of England Structural Development Fund ISDF) and the Church of England Diocese of Leicester Growth Fund. Grant funding gradually tapers off and ended during 2024. (iv) From January until June, a student worker was employed on a fixed term contratt, which was fLJlly funded by the Church of England SDF. {vi} Note 19 provides information relating to employees who are also trustees. 14
9 Tangible fixed assets Freehold Land and Buildings Flxlures and Equipment Total Cost or Valuation At 1st January 2024 Additions 275.000 76,736 2,991 351,736 2,991 Disposal Revaluation INote 16) At 31st December 2024 275,000 79.727 354,727 Depreciation At Lstjanuary 2024 Cha rge for the year Depreciation on disposal At 31st December 2024 76,736 487 76,736 487 77,223 77,223 Net Book Value5 At Istjanuary 2024 At 31st Decernber 2024 275,000 275,000 275,000 277,504 2,504 10 Debtors 2024 2023 Accounts receivable 2,606 3,593 5,500 24 4,762 3,472 15,466 10 Gift aid recoverable Prepayments and attrued income Other debtors 11,723 23,710 11 Cash at bank and in hand 2024 2023 PCC reserve fund bank account PCC gen.era I current bank accounts Junior football team bank account 245,747 23,344 12,464 281,554 281,872 31,355 11,527 324,754 15
12 Creditors: amounts falling due within one year 2024 2023 Accounts payable Accruals and deferred income Tithe pending distribution Taxation and social security Collections to be paid over to others Su ndry creditors 1,052 4,640 5,770 1,876 10 17,831 8,996 6,368 2,138 2,238 15,586 2.869 38, 202 13 Deferred Income 2024 2023 Balance brought forward Grants added in current period - SDF & Growth Fund funding (general fund staff costs) - SDF reimbursement of expenditure Amounts released to income 4,437 6,264 11,550 8,CK)O (23,987) 28,083 8,000 (37,910} 4,437 Balance carried forward (i) Deferred income, included within accruals and deferred income above. relates to grants received. (li) In the current and prior year, general fund grants have been received to assist with staff costs, from both the Church of England (Structural Development Fund {SDF) and Growth Fund). In addition, costs of trainin& development and Clergy expenses to support Emmanuel as a Resource Church have also been reimbursed by the SDF. (iii) All existing grant arrangements were concluded at the end of 2024. 14 Restricted funds Analysls of movements durlng the CURRENT reporting period At Incoming resources Outgoing resource5 31st Dec 2024 At 1st Jan 2024 Project 5000 Youth football Student worker training fund Other restricted donations 9,777 11,527 1,552 798 (1,526) {43,178) (1,552) 13,877) 150,133) 9,049 12,463 44.114 3,877 48,789 22,856 21,512 All Incoming and outgoing resources relate to income and expenditure included in the SOFA 16
14 b. Analysls of movements during the PREVIOUS reporting period At Incoming resources Outgoing resources 31st Dec 2023 At 1st Jan 2023 Projert 50CIO Youth football Student worker training fund Other restricted donations 8,359 13,829 1,100 225 2,851 (1,433) 38,850 (41,152} 4,375 (3,923) 6,714 (6,939) 23,513 52,790 (53,447) All incoming and outgoing resources relate to income and expenditure noted included in the SOFA. 9,777 11,527 1,552 22,856 Purpose of restricted funds Project 5000: this f und is restricted to donations and other income received in support of Project 5000, which is entirelv run by volunteers and provides hot meals and other support to the homeless and others in need throughout the year. Outgoing resources on this fund represent the cost of providing the support. Youth football: this fund is restricted to income (including voluntary subscriptions, payments for kit and other donations) received by the Emmanuel FC youth football teams. and the associated expenditure. The teams are run entirely by volunteers. Student worker training fund: this fund comprises money donated by supporters of our student worker to fund a trèining course related to the role. The fund was closed on 2023 following suff icient donations to cover the cost of the course, The balance brought fOrnard represented the final payment paid in January 2024, other restricted donations: these are donations given for various specific purposes, The largest was £2,655 raised to support the work of a school in Toloha operated by our link Diocese of Mount Kilimanjaro in Tanzania, This money is donated to the Diocese of Leicester who make the donation to the Tanzanian Diocese. IS Unrestrirted funds Analy515 of movements during the CURRENT reporting period At Incoming resources Outgoing resources 31st Dec 2024 At 1st Jan 2024 Designated Reserve fund Designated Redecoration & Investment fund Designated Church planting fund Total designated funds General fund Revaluation reserve {note 16) Tota l u nrestritted funds 33.500 236,608 12,322 282,430 139,976 140,000 562,406 33,500 205,874 12,402 251,776 141,907 140,000 533,683 6,344 80 6,424 340,988 {37,0781 (37,078) (339,057) 347,412 {376,135) All Incoming and outgoing resources relate to income and expenditure are noted on the SOFA. 17
Analysis of movements during the PREVIOUS reporting period At Incoming resources Outgoing Transfer resources Between Fund31st Dec 2023 At 1st Jan 2023 Designated Reserve fund Designated Redecoration & Investment fi Designated Church planting fund Total designated funds General fund Revaluation reseNe (note 16) Tota l unrestricted funds 33,500 258,153 12,203 303,856 138,228 140,000 582,084 33,500 236,608 12,322 282,430 139,976 140,000 562,406 2,517 119 (24,062) 2,636 353,969 (24,062) (352,221) 356,605 (376,283) All Intoming and outgoing resources relate to income and expenditure are noted on the SOFA. Purpose of designated fvnds Designated Reserve fund: this fund has been deslgnated to ensure that reserves are held to cover future running costs. Designated Redecoration & investment fund: this fund has been designated to set aside the proceeds of the sa le of former property net of costs incurred and a former Redecoration Fund. During the period the PCC have spent £34,900 less a VAT grant of £6,344 toundertake major repairs to two pinnacles on the roof of the church building. The balance of the fund 15 invested until further capital projects are undertaken including works required by quinquennial inspection. Designated ChLJrch planting fund- this f und has been designated to set aside funds to be used for church planting and related expenditure, 16 Revaluation Reserve (unrestricted) Analysis of movements during the CURRENT reporting peri¢xl At 1st Disposal in Jan-24 year At 31st Dec 2024 Land and Buildings 140,000 140,000 Analysis of movements during the PREVIOUS reporting period At 1st Revaluation Jan 2023 in year At 31st Dec 2023 Land and Buildings 140,000 L40,000 17 Transfers between funds Unrestricted Designated Restricted Total Transfer from other restricted funds to unrestricted 18
18 Balance sheet analysls Balance sheet analysis by fund type (CURRENTYEAR) General Designated Restrirted Total Fixed assets 277,504 11,723 8,266 (15,586) 281,907 277,504 11,723 281,554 (15,586) 555,196 Current assets Cash at bank Cred itors Net assets 251,776 21,512 251,776 21,512 Balance sheet analysis by fund type (PREVIOUS YEAR) General Deslgnated Restricted Total Fixed assets Current assets Cash at bank Cred itors Net assets 275,000 23,710 19,467 (38,202) 279,975 275,000 23,710 324,754 (38,202) 585,261 282,430 22,856 282,430 22,856 19 Transactions Wlth members of the PCC and related parties - (i) Reimbursement of expenses to the following clergy who were trustees for all or part of the year amounted to- Rev M Broadley £4,564 (2023- £4,555), Rev A Walton £1,783 (2023: £2,138) and Kat Marjoribanks £1,20412023: £699). (li) No other member of the PCC has received any remuneration, (iii) PCC members from time to time receive monies in respect of valid expense claims, supported by relevant documentation, (iv} Substantial amounts of voluntary help were received, the value of which cannot be quantified. 19